BREXIT, GLOBALIZATION & FREE TRADE DEALS

So it looks as if the chickens are starting to come home to roost. There were two articles in the Waterloo Region Record last Monday regarding the above headline and they were titled "Brexit a cautionary tale for the Clintons" by Geoffrey Stevens and "The backlash against globalization" by Jim Tankersley of the Washington Post.

Both of these articles make it clear that the authors have no doubts that the British vote to leave the European Union were based upon numerous factors including a touch of anti-immigration racism, self interest, disgust with politicians, elites and other liars who have never been straightforward in regrads to the costs and risks involved with free trade and globalization.

Similarily it appears that these attitudes amongst the working classes and the middle class are common on both sides of the Atlantic. They feel that they have been both lied to and left out of the benefits of free trade. It seems that the statistics for income growth and asset growth would bear out their complaints. They are also tired of being misled by politicians on almost all matters including economic ones. Looking at it from the position of those left behind by free trade and globalization it's pretty difficult not to empathize and agree with their FU attitude as expressed in their vote to leave the EU. One could almost equate that decision with the decision of the all black jury who voted to acquit O.J. Simpson in his double murder trial. The black jurors were sending a powerful message to the U.S. judicial system in regards as to how they treat blacks overall.